According to the National Statistics Committee (Belstat), the trade turnover between Belarus and Egypt, the key partner country on the African continent, increased by 140.6% and amounted to $ 41.6 million during the period. Egypt is on the rather extensive list of African countries, where the supply of Belarusian products is increasing. In January-May 2017, it grew by 3.4 times ($ 26.4 million), Your Country’s Tomorrow writes.
The value of any currency depends on the state of the country’s economy and on purchasing power of the currency on the international market. The strength of most African currencies is based on their value in comparison with the United States Dollar. This is because the US Dollar is the currency used worldwide to trade on the international market. Most African countries do not have strong and stable currencies.
USAID West Africa Trade and Investment Hub Consultant Mr. Musa Rubin has urged garment exporters to establish brands to boost their trade.
He spoke at a workshop organised by the Trade Hub and Nigerian Export Promotion Council (NEPC) in Lagos.
Rubin discussed the diversity of the United States (US) market, where over 50 million people spend an average of $1,000 per person on garments yearly.
ZAMBIA has been challenged to ‘up its game’ to tap into the South African market if it is to fully benefit from trading with that country.
The challenge by South Africa’s High Commissioner to Zambia, Sikose Mji, comes in the wake of the continued trade imbalance between the two countries in favour of South Africa.
Zambia Development Agency estimates that in 2015 Zambia only exported goods worth US$534 million while South Africa exported goods worth US$2.6 billion.